A Glance of China Oil Market 20251215

On the demand end, the gasoline end-market consumption is expected to remain subsided, while the traders will build stocks for the Chinese New Year in phases. The gasoil demand will reduce further with more rains and snows expected in northern China, while the project rush in southern China will likely offer some support.

A Glance of China Oil Market 20251215

Weekly News

China Dec gasoline consumption to contract 1.8% MoM

China's gasoline consumption is projected to decline further month-on-month in December due to seasonal effects. Against the backdrop of the ongoing structural energy transition, demand is also forecast to remain lower than in the same period last year, according to OilChem's data. In detail, China's gasoline consumption is estimated at around 400,000 tonnes/day in December, down 2.31% month-on-month and 1.53% year-on-year, OilChem's analysis showed. Specially, the brief uptick in travel demand during New Year's Day holiday will provide limited support to overall monthly consumption and spot transactions. Read Full Story

China Nov refined oil exports down 22% by shipping fixture

According to OilChem's tracking of the shipping fixture, China's exports of refined oil, namely gasoline, gasoil, and kerosene, totaled 1.77 million tonnes in November, down 22.03% from the previous month (data is based on the general trade export method and does not include bonded exports). The November exports by shipping fixture comprised 0.54 million tonnes gasoline, 0.50 million tonnes gasoil, and 0.73 million tonnes kerosene. The export margins of gasoline and gasoil were moderate through November, while the relatively tight domestic supply led to a reduction in both the scheduled exports and actual exports by shipping fixture. Read Full Story

China gasoil market sees inventory drawdown through 2025

With alternative energies continuously gaining popularity among other causes, China's gasoil consumption has been contracting after peaking in 2019. However, entering 2025, there have been noticeable signs of slowing gasoil consumption reductions since the second half of the year. It is expected that the annual decrease in consumption may narrow to less than 4%. While consumption contraction sustains, a sharper drop in refinery yields and production on the supply side has led to an inventory drawdown throughout the year. In 2025, due to the impact of policies such as tax credit deductions for independent refineries, the production of both gasoline and gasoil has declined. Read Full Story